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Archive for the ‘Movies’ Category

Supermarket and drug store movie rental kiosk operator Redbox is introducing a new service called Redbox Instant by Verizon. For a monthly fee of $8, subscribers can access movies online. Redbox will be competing with Netflix, Instant Video of Amazon.com, Apple’s iTunes, and Vudu by Wal-Mart and expect to roll out the new service within next three months. Subscribers will also receive credit to rent four recent releases from kiosks operated by Redbox at supermarkets and drug stores.

Redbox operates over 42,000 DVD rental kiosks in the U.S. It introduced its new Redbox Instant service at the just concluded Consumer Electronics Show (CES) in Las Vegas. On-demand movie streaming expanding rapidly and Redbox believe the new service will enhance its current business model of DVD movie rentals. Movie studios such as NBC Universal, Paramount Pictures, Warner Brothers, Sony Pictures and Lionsgate have already signed on to the new service to provide with on-demand movies. Verizon partnership is also beneficial to Redbox. Verizon has FiOS; a TV, phone and Internet service in many communities including the state of New York. Competitors are also gearing up their offerings to customers in anticipation of the launch of the new service.

The U.S. has 40,000 movie screens. Half of these screens are run by four major movie theater companies. They are Regal Entertainment Group, Cinemark Holdings, Carmike Cinemas and AMC Theaters. The other half of the screens are owned by smaller theaters. In 2012, the box-office receipts totaled a record $10.8 billion. The Dark Knight Rises, Hunger Games and the Avengers alone brought in $1.5 billion in ticket sales.

The Regal Entertainment Group controls nearly 7,000 screens. Cinemark Holdings has 5,200 screens worldwide. 1,300 of those screens are in Latin America. The smaller Carmike Cinemas has 2,200 screens and expect to reach 3,000 screens soon by concentrating in smaller cities such as Allentown, Pa.; Athens, Ga.; and Chattanooga, Tenn. AMC Theaters were sold to a Chinese outfit in 2012 but is a big player in the U.S. movie theater business. The smaller theater operators don’t have the financial capacity to upgrade and may eventually bought by the main players.

Conversion of movie theaters to digital format helps the four big players to screen movies with 30 minute in between start times and show live events. Added new seats provide the same comfort of watching a movie at home. Some theaters even serve gourmet food and cocktails.

The much awaited The Hobbit: An Unexpected Journey, first of three expected series, is expected to hit the U.S. theaters on December 14, 2012. It is co-produced by the MGM and Warner Bros. Martin Freeman plays Bilbo Baggins character in the movie. Since its release in 1937, more than 100 million copies of The Hobbit have been sold worldwide. Based on J.R.R. Tolkien’s fantasy novel The Hobbit, the movie is co-written and produced by Peter Jackson who produced The Lord of the Rings series.

The Cinemark Holdings, the third-largest movie theater chain in the U.S. is capable of carrying the 3D version of the movie in its 461 locations. However, it will be limited to screen the 3D version only on 160 locations. The movie comes with a first in 3D technology advances. It will be projected at 48 frames per second, double the industry standard. This high-frame-rate projection will be limited to about 450 of the 4,000 theaters in the U.S. and Canada.

The movie is expected to generate at least $300 million in revenue just in North America. These estimates are based on the release of the first Lord of the Rings movie which brought in $313 million.

“The Dark Knight Rises”, third and last of the Batman trilogy reportedly earned $160.9 million over the two day opening affected by the tragic shooting in a Century theater in Aurora, Colorado. This is somewhat lower earning for a much anticipated Batman movie. Still, it is within the range of records earned by “The Avengers” ($207.4 million) and “Harry Potter and the Deathly Hallows – Part 2” ($169.2 million). Expectations ranged from $170 to $200 million. All major movie theaters including Paramount and Universal, as well as the Warner Bros. broke the tradition and delayed the weekend box office earning release due to the tragedy in Colorado. The IMAX alone made $19 million ticket sales and together with the 3-D version of the movie cost bit more than the 2-D version.

On Monday, July 23, 2012, the suspected gunman, a recent drop-out of a PhD program at the University of Colorado at Denver, appeared in Aurora court and he is expected to be formerly charged for 12 deaths and other crimes within a week. 58 others including some in critical condition either remain in hospitals or released after treatment. The news of the shooting at the theater shocked the nation.

On April 15, 2012 it will be 100 years since the sinking of the infamous RMS Titanic. On her maiden voyage from Southampton, United Kingdom to New York City, United States, the RMS Titanic carrying 2,223 people hit an iceberg and several short hours later began to sink. 1,514 people died on that day. At the time of the sinking of the Titanic, it was the largest passenger ship on the planet and cost $7.5 million to build it.

The epic romantic movie, Titanic first screened in 1997 directed, written, co-produced and co-edited by James Cameron. Leonardo DiCaprio and Kate Winslet starred the epic romantic love story that depicted the class conflict inside the ship. The cost of production of the movie estimated to be over $200 million.

Titanic 3D was released for worldwide audience in April 2012. During the first two weeks of screening in several countries, the 3D version is setting box office records. After 12 days in theaters, 3D movie had made over $200 million in ticket sales. It had become a runaway hit in China.

Overall, both movie versions worldwide gross revenue is estimated to be over $802 million making it one of the successful movie releases.

It appears that the era of celluloid projection movie theaters are numbered. More and more existing theaters are converting to digital media. Approximately 26,000 of the 40,000 strong U.S. movie theaters are already converted to new digital system which is far superior quality to old celluloid. The cost of the conversion to new digital media is about $75,000. The major chains are expected to complete their theater conversion to new format by early 2013.

The conversion to new digital media may not be profitable for most of the smaller theaters because it doesn’t add any new capacity or revenue. Therefore, several thousand existing smaller theaters are expected to be closed down by 2013 when the industry is expected to go totally digital. However, industry has not set a deadline for conversion to digital media at this time.

Smaller theater owners are worried that the pace of the technology may make their converted theaters obsolete in a year or two costing them to replace equipment again with hardly any new income. Hollywood is working with investors who are willing to modernize existing theaters with new equipment and the owners will pay a monthly charge for leasing new ly installed equipment.

Lovers of the action packed James Bond movie series will be happy know that the latest film will be released in 2012. Fifty years after the release of the first Bond movie “Dr. No” in 1962, the new movie which is yet to be named but known as “James Bond 23” will be released in London on October 26 and in the US on November 9. This will be the Twenty Third movie of the series.

Daniel Craig will return as steely agent 007. This will be his third Bond movie after starring in Casino Royale and Quantum of Solace. It is expected that Dame Judi Dench will be returning as “M” despite her advancing years.

Director Sam Mendes is expected to direct the film. He is the director behind successful films like “American Beauty”, Revolutionary Road” and “Road to Perdition”.

No announcement has been made as to who the Bond girl would be, but rumor has it that it could be actress Naomi Harris who played the role of Tia Dalma in two Pirates of the Carribean movies. There is also speculation that Javier Bardmen will star in the film as well.

American Idol has decided its Top 24. 12 girls and 12 boys were chosen to go to the next round live for the public to vote. It has been an interesting season with many good singers and interesting characters. Some favorites like 15-year-old Jacee went home, while some other favorites that made it were: Brett Loewenstern (long red haired guy), Jovany Barreto (the guy who showed his abs), Paul Mcdonald, James Durbin (the punk that delivers pizza), and Scotty McCreery (the country singer), Lauren Alaina.